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<blockquote data-quote="It_is_my_time" data-source="post: 390256" data-attributes="member: 5301">I don't have time to go through all that.&nbsp; It isn't a &quot;difference of opinion&quot; when you say &quot;the USA has plenty of money&quot;.&nbsp; Money or in other words, wealth, is finite.&nbsp; It has a limit.&nbsp; The USA would have plenty of wealth if we managed it well.&nbsp; But we don't.&nbsp; There is nothing magical about the bond market.&nbsp; For the USA to borrow more money we have to sell treasury bonds.&nbsp; You can go out and buy treasury bonds yourself, though I wouldn't recommend it as the return is terrible and it is looking less likely we can pay them back.So who is buying the treasury bonds?&nbsp; The central bankers.&nbsp; They own our debt.&nbsp; Who are the central bankers?&nbsp; Extremely wealthy and well connected private owners who can manipulate the markets to their favor by buying our debt.&nbsp; So in other words, our ability to keep loaning money to pay for services is now dependent on a few rich guys who already pulled the rug out from under Greece, Portugal, Spain and Italy for good reason (they had no way of repaying their debt).&nbsp; Our debt per GDP is not far behind where these countries were when they had the rug pulled out from under them.&nbsp; And when that happens, well, go to youtube and type in &quot;Life in Greece after austerity&quot; and see for yourself.</blockquote>

[QUOTE="It_is_my_time, post: 390256, member: 5301"] I don't have time to go through all that. It isn't a "difference of opinion" when you say "the USA has plenty of money". Money or in other words, wealth, is finite. It has a limit. The USA would have plenty of wealth if we managed it well. But we don't. There is nothing magical about the bond market. For the USA to borrow more money we have to sell treasury bonds. You can go out and buy treasury bonds yourself, though I wouldn't recommend it as the return is terrible and it is looking less likely we can pay them back. So who is buying the treasury bonds? The central bankers. They own our debt. Who are the central bankers? Extremely wealthy and well connected private owners who can manipulate the markets to their favor by buying our debt. So in other words, our ability to keep loaning money to pay for services is now dependent on a few rich guys who already pulled the rug out from under Greece, Portugal, Spain and Italy for good reason (they had no way of repaying their debt). Our debt per GDP is not far behind where these countries were when they had the rug pulled out from under them. And when that happens, well, go to youtube and type in "Life in Greece after austerity" and see for yourself. [/QUOTE]

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